PGGM Investments Buys 1,359 Shares of Carrier Global Co. (NYSE:CARR)

PGGM Investments boosted its position in Carrier Global Co. (NYSE:CARR) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,519 shares of the company’s stock after buying an additional 1,359 shares during the quarter. PGGM Investments’ holdings in Carrier Global were worth $6,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its holdings in shares of Carrier Global by 86.7% in the fourth quarter. McClarren Financial Advisors Inc. now owns 435 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of Carrier Global during the fourth quarter valued at about $25,000. EdgeRock Capital LLC bought a new stake in shares of Carrier Global during the fourth quarter valued at about $27,000. Criterion Capital Advisors LLC bought a new stake in shares of Carrier Global during the fourth quarter valued at about $32,000. Finally, United Community Bank bought a new stake in shares of Carrier Global during the fourth quarter valued at about $34,000. 91.00% of the stock is currently owned by institutional investors.

Carrier Global Trading Down 3.1 %

Shares of NYSE:CARR traded down $2.07 during trading on Friday, reaching $63.99. 3,556,949 shares of the company traded hands, compared to its average volume of 3,753,714. The firm has a market capitalization of $57.77 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.63 and a beta of 1.32. Carrier Global Co. has a 52-week low of $45.68 and a 52-week high of $70.09. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average is $64.64 and its 200-day moving average is $60.24.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 earnings per share. As a group, analysts forecast that Carrier Global Co. will post 2.84 EPS for the current year.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 21st. Carrier Global’s dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

CARR has been the topic of several analyst reports. TD Cowen upped their price target on Carrier Global from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $72.00 price target on shares of Carrier Global in a research report on Friday, July 26th. Barclays upped their price objective on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Oppenheimer decreased their price objective on shares of Carrier Global from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $74.00 in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.77.

Insider Activity

In related news, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Nadia Villeneuve sold 98,428 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.40, for a total value of $6,437,191.20. Following the completion of the sale, the vice president now owns 85,028 shares of the company’s stock, valued at $5,560,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kyle Crockett sold 4,611 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares of the company’s stock, valued at approximately $135,568.38. The disclosure for this sale can be found here. Insiders own 6.95% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.